Gautam Patel Sells 17,410 Shares of Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Stock

Amneal Pharmaceuticals, Inc. (NASDAQ:AMRX) Director Gautam Patel sold 17,410 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.01, for a total transaction of $139,454.10. Following the completion of the transaction, the director now directly owns 2,031,476 shares in the company, valued at $16,272,122.76. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Amneal Pharmaceuticals Stock Performance

AMRX stock opened at $7.87 on Wednesday. Amneal Pharmaceuticals, Inc. has a one year low of $5.01 and a one year high of $9.48. The firm has a market cap of $2.44 billion, a PE ratio of -11.57 and a beta of 1.10. The firm’s 50 day moving average price is $8.25 and its 200-day moving average price is $8.03.

Institutional Investors Weigh In On Amneal Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMRX. Gladius Capital Management LP purchased a new position in shares of Amneal Pharmaceuticals during the 3rd quarter worth $37,000. DekaBank Deutsche Girozentrale acquired a new position in Amneal Pharmaceuticals in the second quarter valued at about $42,000. Quest Partners LLC acquired a new position in Amneal Pharmaceuticals in the third quarter valued at about $84,000. Xponance Inc. acquired a new stake in shares of Amneal Pharmaceuticals during the second quarter valued at about $65,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Amneal Pharmaceuticals in the 3rd quarter valued at approximately $169,000. Institutional investors and hedge funds own 31.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMRX shares. Piper Sandler raised their target price on Amneal Pharmaceuticals from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. StockNews.com lowered Amneal Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 19th. Finally, Truist Financial upped their target price on shares of Amneal Pharmaceuticals from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

About Amneal Pharmaceuticals

Amneal Pharmaceuticals, Inc, together with its subsidiaries, develops, manufactures, markets, and distributes generics, injectables, biosimilars, and specialty branded pharmaceutical products worldwide. The company operates through three segments: Generics, Specialty, and AvKARE. The Generics segment offers immediate and extended release oral solid, powder, liquid, sterile injectable, nasal spray, inhalation and respiratory, biosimilar, ophthalmic, film, transdermal patch, and topical products.